Mike Santoli’s market notes: Charts not looking great, key S&P levels, what VIX indicates

People walk along Wall Street in the Financial District on September 02, 2020 in New York City.
Spencer Platt | Getty Images

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This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.

  • The market remains on the defensive, but not yet letting the bears run up the score. It's a grinding near-retest of the September low in the S&P 500, which is also the early-June peak and the YTD breakeven line.